C M Bidwell & Associates Ltd. Buys Shares of 13,410 Quidel Corporation (QDEL)
C M Bidwell & Associates Ltd. bought a new stake in Quidel Corporation (NASDAQ:QDEL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,410 shares of the company’s stock, valued at approximately $364,000.
A number of other large investors have also recently added to or reduced their stakes in QDEL. Point72 Asset Management L.P. purchased a new position in Quidel Corporation in the 1st quarter valued at about $11,266,000. Macquarie Group Ltd. lifted its holdings in Quidel Corporation by 23.6% in the 1st quarter. Macquarie Group Ltd. now owns 1,195,927 shares of the company’s stock valued at $27,076,000 after purchasing an additional 228,515 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in Quidel Corporation in the 2nd quarter valued at about $5,062,000. Marshall Wace North America L.P. lifted its holdings in Quidel Corporation by 370.1% in the 2nd quarter. Marshall Wace North America L.P. now owns 171,800 shares of the company’s stock valued at $4,639,000 after purchasing an additional 135,253 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Quidel Corporation by 27.6% in the 2nd quarter. Renaissance Technologies LLC now owns 612,487 shares of the company’s stock valued at $16,623,000 after purchasing an additional 132,587 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.
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In other news, SVP Michael Donald Jr. Abney sold 1,173 shares of Quidel Corporation stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $33.83, for a total transaction of $39,682.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas C. Bryant sold 36,000 shares of Quidel Corporation stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $42.91, for a total value of $1,544,760.00. Following the sale, the chief executive officer now owns 296,493 shares of the company’s stock, valued at $12,722,514.63. The disclosure for this sale can be found here. Insiders have sold a total of 227,388 shares of company stock valued at $8,274,312 over the last 90 days. Corporate insiders own 22.00% of the company’s stock.
A number of research analysts have issued reports on the stock. Barclays PLC upped their target price on shares of Quidel Corporation from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. BidaskClub lowered shares of Quidel Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Canaccord Genuity restated a “buy” rating and issued a $48.00 target price (up from $42.00) on shares of Quidel Corporation in a report on Tuesday, September 19th. Piper Jaffray Companies upgraded shares of Quidel Corporation from a “neutral” rating to an “overweight” rating and upped their target price for the company from $35.00 to $50.00 in a report on Tuesday, September 19th. Finally, Raymond James Financial, Inc. upped their target price on shares of Quidel Corporation from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Quidel Corporation presently has an average rating of “Buy” and an average target price of $44.00.
Quidel Corporation (NASDAQ QDEL) traded up 1.07% on Monday, hitting $43.42. 44,586 shares of the stock were exchanged. The company’s market cap is $1.45 billion. Quidel Corporation has a 52 week low of $18.25 and a 52 week high of $45.55. The company’s 50-day moving average is $38.40 and its 200-day moving average is $29.77.
Quidel Corporation (NASDAQ:QDEL) last announced its quarterly earnings data on Wednesday, July 26th. The company reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.18). Quidel Corporation had a negative return on equity of 0.03% and a negative net margin of 0.03%. The business had revenue of $38.30 million for the quarter, compared to analyst estimates of $41.91 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year. On average, analysts predict that Quidel Corporation will post $0.29 earnings per share for the current year.
Quidel Corporation Company Profile
Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. These diagnostic testing solutions are separated into four product categories: immunoassays, molecular assays, virology and specialty products. The Company sells its products directly to end users and distributors, in each case, for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, universities, retail clinics, pharmacies and wellness screening centers.
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